The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-05-03
ASSESSMENT OF BANK SHARES.
The Supreme Court Points Out the Only
Method for Correcting Errors.

The Supreme Court Points Out the Only
Method for Correcting Errors.
WAsHINGToN, May "A decision rem
dered by the Supreme Court of the United
States, to-day, Ia the bank-tax case of Hattie Z.
Stanley, executrix, plaintiff in error. against the
board of supervisors of Albany, N. Y. The
igiual plaintiff in this case, Edward N Stanley.
was a citizen of Illinois. and claims to be the
assignee of certain shareholders of the National
Albany Exchange Bank. He brought suit to
recover back certain taxes alleged to have been
illegally collected from them upon their shares
in that bank during the years from 1874 to 1879,
inclusive. and paid into the treasury of the
county of Albany. He complained that the
assessors, by rule prescribed by themselves,
assessed the shares of the National Albany Ex-
change Bank at higher rate than
stock in other banks situate in the same city
The rule adopted by the to assess
a II shares of stock in State and national banks
in the City of Albany at par. irrespective of
their actual market value, making the
requisite deduction for real estate owned by the
banks. The plaintiffs maintained that this rule
necessarily resulted IN imposing upon the shares
of the National Albany Exchange Bank a
greater rate of valuation than assessed
upon other moneyed capital generally. because
the actual value of shares of stock in the Ma
tional Albany Exchange Bank was considerably
less than the stock of most of the>other banks
IN the city. This court holds that the method
of assessment complained of is applied 10 all
banks, national and State, and comes as near as
practicable. considering zoe nature of the
property, to securing. ss between, them,
uniformity and eqas.liy, qaI1,...s Of taxation ION
eliminating against either. In respect
can it be regarded adopted IN hostility TO the
national banks. II must sometimes place the es-
timated value of their shares below their real
value but such result is not one Of which the
holders of national bank shares can complain.
1t must, also, sometimes lead to generalization
Al t1,.k md ~ fharn nhv-fN
nished for the recovery Of taxes collected there
on. 1t is only where the assessment is wholly
void, void with respect to separable portions
of the property, the amount of which is ascer
tainable, where the assessment had been set
aside as invalid, that an action at law
will lie for the taxes paid. or for
portion thereof Overvauation of property is
not ground Of action at law for the excess
beyond what should have been levied upon aust
valuation. The courts cannot, IN such case, take
upon themselves the functions of a revising or
eoualiziug board In nearly ali the States pro-
vision is made by law for the correction Of errors
and Irregularities of assessors through special
boards of revision To these boards of revision
the citizen must apply for relief against exces
slve and irregular taxation where the assessing
officers had Jurisdiction to act The action of
the latter being Judicial, their Judgments n cases
within their jurisdiction not open to cotlat
eral attacks If not corrected by some of the
modes pointed out by statute. they conclusive,
whatever errors may have been committed IN The
assessment The Judgment of the court below
is affirmed Opinion BY Mr. Justice Field
A decision was also rendered IN the case of
George r Snow and others against the Lake
Shore & Michigan Southern Railway Company;
appeal from the United States Circuit Court for
the Northern district of New York. This was
SUIT brought by the appellants against the rail
wav company for alleged infringment OF a
patent granted June H., 1872, for an improve
rnent in steam bellringers. The court below
dismissed the bill, upon the ground that the
patent had not been infrlnged Its decree Is
affirmed with costs. Opinion by Justice
Matthews